Laws, Regulations & Annotations

Property Taxes Law Guide – Revision 2015

Property Tax Annotations

570.0000 LESSOR'S EXEMPTION

Annotation 570.0001

570.0001 Applicability. A lessor's exemption claim should only be filed when the lease has been adjusted for taxes and the public entity has already received the benefit of the reduction. The exemption claim filed by the public entity (free libraries or museums, public schools, community colleges, state colleges, state universities, or nonprofit institutions of higher education) should list all equipment as to the status, i.e., rental-reduced or no reduction. This will assist in verifying the lessor's claim.

Upon enrollment, only the rental-reduced equipment will be exempted. For equipment listed as no reduction, taxes will be billed and, when paid, will only be refunded to the public entity upon submission of a claim for refund. C 8/30/1979.